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Credit Report

Employment Credit Reports are particularly useful for evaluating candidates for fiduciary, managerial and executive positions and where high-value proprietary information, equipment access or cash handling will be involved.  The Credit Report helps you access the candidate’s financial responsibility by showing comprehensive credit history.  By revealing potential patterns of inability to meet obligations, this report can also help you in identifying those applicants who may be experiencing financial distress — which can conceivably translate into workplace issues.

Specifically formatted for employment evaluation purposes, the Trans Union Employment Credit Report reflects your candidate’s approximate debt load, monthly financial liability, repayment patterns, collection activity (including NSF Checks) and presents a general overview of your applicant’s financial status. It can also provide public information pertaining to civil judgments, tax liens, foreclosures and bankruptcy. Additionally, previous employment, other names used and former addresses may likely appear as well. As an employment report, the candidate’s date of birth and credit account numbers have been suppressed.

Industry Notes: 10 states have enacted laws that place certain limitations on the use of credit reports for employment evaluation purposes.  California for example, has identified 10 specific basis under which an employer may obtain and evaluate a job applicant’s credit report, while also requiring that specific written disclosures are made to the job applicant.  Other states may require general or specific job relatedness in order evaluate job applicant credit reports. Your EIS client service professional will be pleased to provide additional guidance regarding credit reports.

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